Temasek seeks to sell $3.1 billion stake in Thailand's Shin Corp to SingTel: source Reuters.
I remember in 2006 Whore Jinz paid $4.5b for the Shin Corp stake to Thug Shin which triggered his downfall.
More of your CPF money is going up in smoke.
I had to revisit this thread as a prime example of how Temasek claims to "make" money. They have been trying to sell the stake in Shin Corp for a while but there was no takers. So, they arrow Singtel (majority owned by Temasek) to buy the Shin Corp shares from them. The time line should be as follows:
- Temasek wants to off load the Shin Corp shares but no takers.
- Temasek can only get rid of those shares if they sell it for a lot less and turn their paper loss into an actual loss.
- Temasek than arrows one of its own subsidiaries, SIngtel to buy the shares at the price they want.
- Singtel ends up paying too much for shares it neither wanted nor asked for. bad for Singtel shareholders.
- Temasek reports a nice gain from the sale
- Temasek auditors treat the sale as revenues from capital asset disposition and reports nice income.
- End result is no money made at all. If Temasek sold to an impartial 3rd party, than the proceeds can be pocketed as actual revenues/capital gains. But one hand sell to the other end, at the end of the day creates no income.
Like this also can? The worse part is that the auditors will sign off on it and say that Temasek actually made some money.
..............LOL.............
